01:43 PM EDT, 08/03/2026 (MT Newswires) -- Tech stocks were higher Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.4% and the State Street SPDR S&P Semiconductor ETF (XSD) up 1.1%.

The Philadelphia Semiconductor index added 0.5%.

In corporate news, Alibaba ( BABA ) shares climbed 4.4% after the firm said it has launched Qwen3.8-Max, its latest large language model.

ArcelorMittal (MT) said Monday it has expanded its partnership with Microsoft ( MSFT ) to implement AI tools in its business processes. Separately, Microsoft ( MSFT ) is raising Xbox prices in the EU and the UK by up to 200 euros ($230.10) and 170 pounds ($228.33), respectively, The Verge reported. Microsoft ( MSFT ) shares rose 5.2%.

Apple ( AAPL ) filed a new legal complaint at the Investigatory Powers Tribunal over the UK's demand that the company allow it access to cloud backups of data belonging to British users, The Financial Times reported Monday, citing a court order. Apple ( AAPL ) shares were down 0.7%.